Given a 5 percent interest rate, compute the year 6 future value of deposits made in years
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Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...
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Use equation 51 FV 6 1000 1 005 5 1300 1 005 4 1300 1 005 3 1400 1 ...View the full answer
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Related Book For
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
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